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China's ICBC to pay U.S. $45 million to settle depository receipt probe


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WASHINGTON, June 14 (Reuters) - The U.S. Department of Justice said on Friday Industrial and Commercial Bank of China Financial Services LLC pleaded guilty to conspiring with other financial firms to rig bids relating to the release of American Depository Receipts.

The bank was ordered to pay a $3 million criminal fine, the Justice Department said. Separately, the U.S. Securities and Exchange Commission said it had fined the firm $42 million to settle charges for improper handling of ADRs in relation to the case.

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WASHINGTON, June 14 (Reuters) - The U.S. Department of Justice said on Friday Industrial and Commercial Bank of China Financial Services LLC pleaded guilty to conspiring with other financial firms to rig bids relating to the release of American Depository Receipts.

The bank was ordered to pay a $3 million criminal fine, the Justice Department said. Separately, the U.S. Securities and Exchange Commission said it had fined the firm $42 million to settle charges for improper handling of ADRs in relation to the case.






This article appears in: Stocks , Banking and Loans , Technology



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